University of the Aftermarket Offers New "Financial Skills for Non-Financial Professionals" Seminar in November
MIDLAND, Mich. – Understanding the numbers is an important skill, especially for those who want to advance their careers. Yet many in the industry are put in positions in which they manage or influence numbers, but they have no formal background in finance or accounting.
To address this, the University of the Aftermarket has announced a new program that focuses on the essential finance and accounting skills that aftermarket professionals in all industry channels must understand. The program will be held Nov 13-14, 2012 at the Sloan Family Building for Aftermarket Studies on Northwood University's campus in Midland, MI.
The program is specifically designed for aftermarket professionals in any market segment who want to improve their understanding of financial and accounting concepts in an aftermarket framework. This two-day course will cover basic financial statements (balance sheet, income and cash flow statements), managerial accounting, budgeting, reading quarterly/annual statements, understanding financial concepts and their practical application, aftermarket case studies, as well as the use of different types of financial resources. Participants will leave the course with an understanding of finance and accounting concepts, as well as their practical application in a variety of aftermarket business environments.
Participants will learn:
• Key finance terms: assets, liabilities, capital, depreciation, capitalization, important financial ratios.
• Financially based decision making
• Fundamentals of Excel
• Basic accounting principles
• Applying & understanding accounting conventions and guidelines
• Developing working rules regarding corporate financial statements
• Using the balance sheet to examine assets and liabilities
• Analyzing the income statement to assess revenues and expenses
• The statement of cash flow: sources and uses of funds
• Content and format of the annual report
• Debt vs. equity financing
• Keeping your plan on target with budgetary controls
• Using profit-planning tools, break-even analysis and financial forecasting
• Cash flow: where cash comes from and how it's applied
• Elements of cost accounting
• Analyzing payback method, discounted cash flow, present value and present value index in making decisions
• Understanding the cost of capital
"This program is not for financial or accounting professionals," explained Brian Cruickshank, director of the University of the Aftermarket. "Rather, it was created for everyone else in the aftermarket who touches, manages, influences or needs to understand the numbers. This would include managers, sales professionals, business owners, and anyone who want to improve their financial acumen."
The cost of the program is $1,495 and includes all meals. Affordable on-campus hotel housing is available. Industry professionals may register at www.universityoftheaftermarket.com. Click "Course Calendar" and scroll down to find the program's listing.
Graduates will earn earned 1.6 continuing education units that can be applied toward their Automotive Aftermarket Professional (AAP) or Master Automotive Aftermarket Professional (MAAP) designations. To learn more about Finance Skills for Non-Financial Professionals and other University of the Aftermarket programs, call 1-800-551-2882 or visit www.universityoftheaftermarket.com.
ABOUT THE UNIVERSITY OF THE AFTERMARKET
The University of the Aftermarket is an educational alliance of the Automotive Aftermarket Industry Association, the Automotive Warehouse Distributors Association and the Automotive Aftermarket Suppliers Association and is an operating unit of Northwood University. The University of the Aftermarket provides business, management and leadership education to professionals in the motor vehicle aftermarket through on-line, custom, conference, and partnership educational opportunities. Through these programs, the University awards CEU credit that can be applied toward completion of the aftermarket's Automotive Aftermarket Professional (AAP) or Master Automotive Aftermarket Professional (MAAP) designations.
ABOUT NORTHWOOD UNIVERSITY
Northwood University is committed to the most personal attention to prepare students for success in their careers and in their communities; it promotes critical thinking skills, personal effectiveness, and the importance of ethics, individual freedom and responsibility.
Private, nonprofit and accredited, Northwood University specializes in managerial and entrepreneurial education at three full-service residential campuses located in southern Florida, mid-Michigan and northern Texas. Adult Degree Programs are available in eight states with many course delivery options including an online option. The DeVos Graduate School offers day and evening programming in Michigan, Texas, Florida and Switzerland. The Alden B. Dow Center for Creativity and Enterprise in Midland, Michigan, specializes in creative thinking and innovation development. International education is offered through study-abroad and in Program Centers in Switzerland, China, Malaysia and Sri Lanka.